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第11课--易货贸易仍在使用外刊经贸知识选读-每课重要知识点-串讲-课文翻译说课材料

第11课--易货贸易仍在使用外刊经贸知识选读-每课重要知识点-串讲-课文翻译说课材料
第11课--易货贸易仍在使用外刊经贸知识选读-每课重要知识点-串讲-课文翻译说课材料

第11课易货贸易仍在使用

The Comeback of International Barter

国际易货贸易的回潮

It is a primitive, inefficient and expensive way of doing business—but the massive debts of developing and the world’s oversupply of goods make it inescapable.

它是一种原始、低效且昂贵的贸易方式,但发展中国家的巨额债务和全球过剩的供给,使它不可避免地存在着。

In 1983 the Saudi Arabian government decided to purchase ten Boeing 747-300s powered by 40 Rolls-Royce jet engines. But faced with declining revenues due to a worldwide surplus of oil, it was reluctant to pay $1 billion in cash. Instead, it offered crude oil. Neither the American aircraft manufacturer nor the British engine-maker wanted all that oil. But opportunities for such a big sale are rare. So the companies have arranged for an international financial institution to sell the Saudi crude on world markets. Boeing and Rolls-Royce will be paid in cash from the proceeds, and Saudi Arabia will get its aircraft without dipping into its currency reserves.

1983 年,沙特阿拉伯政府决定购买10 架波音747-300 飞机,并且由40 架罗尔斯——罗伊斯公司的引擎提供动力。但是面对全球石油过剩造成的收入下降,沙特政府不愿意支付10 亿美元的现金。取而代之,沙特提出要用原油来支付。美国飞机制造商和英国引擎制造商都不想收下全部的原油。然而,像这样大笔买卖的机会是少有的。于是他们安排了一家国际金融机构在世界市场上销售沙特的原油。波音和罗尔斯公司将从售油收人中获取现金,而沙特也将得到飞机而不至动用自己的货币储备。

To secure sales of its F-5 jet fighter to the Swiss government, the Northrop Corporation of the United States agreed to help the Swiss expand export markets for $200 million worth of goods. Northrop located a purchaser for Swiss elevators in Egypt, and steered the Swiss to a cement plant construction project in Indonesia. Over five years some 200 Swiss companies benefited from Northrop’s assistance.

为了把自己的F-5喷气式战斗机卖给瑞士政府,美国诺思罗普公司同意帮助瑞士扩展价值2亿美元的出口市场。他们在埃及为瑞士电梯找到了一个买主,又在印度尼西亚指导瑞士从事一个水泥厂的建设。5年间,大约有200家瑞士公司受益于诺思罗普公司的援助。

In a hot contest the United States’ General Electric Trading Co. won a contract for a $ 150 million turbine project in Romania—largely because in agreed to receive and market Romanian products of equivalent value. General Electric was able to use some Romanian steel products, and developed marketing programs to sell additional materials to the Middle and Far East.

在一场激烈的竞争中,美国通用电器贸易公司赢得了罗马尼亚的一项价值1亿5千万美元的涡轮机工程合同——主要因为通用同意接受并销售罗马尼亚等价值的产品。通用电器公司可以使用一些罗马尼亚的钢铁制品,并且开发一些营销计划把多余的材料销往中东和远东。

Economists at the U.S. Department of Commerce estimate that up to 20 per cent of

trade between nations is now subject to some form of countertrade—an outgrowth of the ancient practice of barter.

美国商业部的经济学家估计,目前高达20%的国家间贸易要遭遇某种形式的对等贸易——古代以货易货的一种发展。

Barter endured for thousands of years as the primary means of trade. Colonial powers forced bilateral barter upon their client states, making the colonies take expensive manufactured goods in return for bargain-price raw materials, and prohibiting them from trading with other nations. International trade was supposed to be freed from bartering’s constraints in July 1944, when diplomats and economists attending the United Nations Monetary and Financial Conference at Bretton Woods, New Hampshire, hammered out agreements that led to the creation of the International Monetary Fund(IMF) and regulation of the worldwide currency exchange system.

Kantor周一对欧洲政府采购案迅速做出回应,这显示了信任政府的耐心可能会小于前任政府。

Commerce among nations a modern era; the constrained trading between imperial powers and their colonies began to break down.World markets opened to all countries, and multilateral trade flourished.Generally a country could sell its goods in the best market it could find, and buy what is needed from the least expensive supplier.Moreover, since currencies were convertible, most transactions could be completed with cash.Barter was as antiquated as the horse-soldier.Or so it seemed.

从此,国家间贸易进入了现代时期;帝国主义列强和其殖民地国家间的强制性贸易开始瓦解崩溃。世界市场向所有国家开放,多边贸易繁荣兴旺起来。通常一个国家可以把自己的商品出售给能够找到的最好的市场,并且从最便宜的供应商处购进自己需要的东西。此外,因为货币可以兑换,大多数的交易可以用现金完成。易货贸易变得像骑兵一样古老。或许,好象如此。

During the past few years, however, the international monetary system has begun to strain under a variety of economic changes.One important cause is the enormous burden of debt carried by Third World countries, today estimated at $ 800 billion.“The plain fact is that many countries are broken,” say David Yoffi e, assistant professor at Harvard University’s Graduate School of Business Administration.

然而,在过去的几年里,国际货币制度开始在各种经济变革中承受巨大压力。一个重要原因是第三世界国家承担的巨额债务,据估计目前有8千亿美元。哈佛大学工商管理研究生院的副教授大卫·约非说:“显而易见,许多国家都要破产了。”Nations with serious debt problems, such as Mexico, Brazil and Argentina, have been compelled to devote almost all their export earnings to debt service, leaving themselves with virtually no surplus to pay for imports.With barter, however, debtor nations can continue to import goods while, in effect, concealing export earnings from creditors.

像墨西哥、巴西、阿根廷这样有严重负债问题的国家都已被迫把自己几乎所有的出口收入用来支付欠款利息,实际上没有给自己留下剩余资金支付进口物品。然而,通过易货贸易,负债国可以继续进口货物,同时把自己的出口所得隐藏起来,不让债权国知道。

But countertrade is not the exclusive province of debtor nations.Says Yoffie, “Even

countries with strong foreign exchange positions, such as Australia, Canada and Indonesia, are insisting on countertrade in certain areas.Linking imports and exports is a way to exert power over multinational corporations.Countries that lack expertise in international marketing try to use countertrade as leverage to tap the networks of global firm s.”

但是,对等贸易并不是债务国所独有的。约非说:“即使像澳大利亚、加拿大和印度尼西亚这样外汇地位强健的国家也坚持在某些领域从事对等贸易。把进口和出口联系起来是一种对跨国公司施加权力的途径。缺乏国际营销专业知识的国家试图用对等贸易作为杠杆来推动跨国公司的内部市场网络。”

Nations also use countertrade as a camouflaged means of subsidizing exports.For instance, if a Middle Eastern country wanted to increase its oil exports, says Yoffie, it could simply lower its price.Such a move would, however, weaken the cartel.But if a country sells its oil at the OPEC list price, and in an interconnected deal quietly arranges to pay a premium for imported goods, both parties in the transaction benefit—at the expense, of course, of other oil producers.Up to a quarter of all OPEC oil transactions today have some kind of countertrade provisions attached.

有些国家还把对等贸易当成补充出口的一种伪装手段。约非说,例如,如果一个中东国家想增加其石油出口,它可以简单地降低油价。然而,这一举动会削弱卡特尔联合企业。但是如果一个国家按欧佩克的挂牌价销售石油,同时在一笔相关交易中,悄悄安排加价购买进口产品,结果交易双方都会从中获益-—当然,是以牺牲其他石油出产国的利益为代价。现在欧佩克的石油交易中有四分之一都带有某种对等贸易的条款。

Barter in its traditional form—the direct exchange of goods of equivalent value—is relatively rare.Its modern variants:

传统形式的易货贸易—同等价值商品的直接交换,相对罕见。其现代变体有:Counter purchase usually involves a supplier selling goods or services and in return ordering unrelated products, which essentially offsets the buyer’s cos ts.For example, when McDonnell Douglas sold civilian aircraft to Yugoslavia in the 1960s, it agreed to purchase goods from that country—including hams that were then served in the company’s cafeteria—and to market Yugoslavizn products in the United States.The firm also encouraged its employees to vacation it Yugoslavia; the tourist dollars spent served to offset the company’s countertrade obligations.

回购通常指供应商销售货物或服务的同时订购不相关产品作为回报,这样基本上抵消了买方的成本。比如,60年代,麦道公司出售民用飞机给南斯拉夫的时候,同意从南购买货物—包括当时供应给自家餐厅的火腿。同时,还同意在美国销售南斯拉夫产品。麦道还鼓励其员工到南度假;旅游者花费的美元用来抵消该公司对等贸易的债务。

Compensation Agreements are often undertaken to win contracts for the construction of manufacturing plants.When Levi Strauss sold a blue jeans factory to Hungary, the American company agreed to market approximately 500,000 jeans per year in East Germany, Poland and Czechoslovakia.

补偿贸易协定是指为了赢得建设工厂的合同所签订的协议。美国利瓦伊一斯特劳斯公司把一个牛仔裤厂卖给匈牙利时,他同意每年在东德、波兰和捷克斯洛伐克销售大约该厂的50万条牛仔裤。

Clearing Agreements tend to be bilateral pacts between governments, an exchange of products to meet an agreed-upon value of https://www.sodocs.net/doc/702336888.html,rge volumes of Western goods reach Russia through a clearing arrangement between the Soviet Union and India.Because India needs to export more to the Soviet Union to balance its imports, it has opened the door for some western firms that otherwise might not be able to sell to the U.S.S.R.

清算协定往往是政府间签订的双边条约,是一种为了达到商定的贸易额所做的产品交换。通过前苏联和印度间的清算协议,大量的西方货品流入苏俄。因为印度需要向前苏联增加出口来平衡进口,所以它向一些西方公司敞开大门,这些公司否则不太可能销售其产品到前苏联。

Britain’s Rank Xerox, for example, found it difficult to sell photo copiers to the Soviet Union because Moscow was unwilling to part with hard currency.But by opening a joint venture copier assembly plant in India, which sends the copiers to the U.S.S.R.through the clearing agreement, Rank Xerox has reached its market.

例如,英国的兰克施乐公司发现他们很难向前苏联出售复印机,因为莫斯科不愿意花掉硬通货。但是通过在印度建立合资的复印机装配厂,根据英印间的清算协定,就可以把复印机卖给前苏联,这样,兰克施乐公司到达了它的市场。

https://www.sodocs.net/doc/702336888.html,ernment officials worry that the explosive growth in countertrade will weaken the world trading system.By concealing the real prices and costs of transactions, says one U.S.trade representative, the various forms of barter may conceal and help perpetuate economic inefficiencies in the marketplace.

美国政府官员担心,对等贸易的爆炸性增长会削弱世界贸易体系。美国的贸易代表说,通过隐瞒交易的实际价格和成本,各式各样的易货贸易可能会掩盖市场中的经济低效并助其长期存在。

Barter can also be ris ky business.“Many companies,” says David Yoffie, “suffer losses because they’re stuck with products of poor quality of with the wrong specifications.”

易货贸易还可能是有风险的生意。大卫·约非说,“许多公司因为换到手中的产品质量差或规格不对而陷入困境,遭受损失。”

The structuring of countertrading deals is often Byzantine.In 1982 Chrysler Corp.set out to sell trucks to credit-starved Jamaica.To pull the deal off, the two sides arranged for the American and Canadian mining companies that dig Jamaica’s bauxite and refine it into alumina to hand over about 50,000 tons of the refined product to the Jamaican government’s Bauxite & Alumina Trading Co.

对等贸易的结构通常错综复杂。1982年,克莱斯勒公司打算向出现信用危机的牙买加销售卡车。为了做成生意,双方安排美国和加拿大的矿业公司开采并冶炼牙买加的铝土,然后把5万吨左右的精炼后的矾土交给牙买加政府的铝矾土贸易公司。

The trading company exported the alumina to Metallgesellschaft AG, a German metals company.Metallgesellschaft AG then sold the alumina to a refiner, which converted it into aluminum.The money the metal company got for the alumina went to Chrysler’s bankers, the European American Bank.The bank paid part of the money to Jamaica’s Bauxite & Alumina Trading Co.

该贸易公司又将矾土出口给一个德国金属公司,Metallgesellschaft AG。

Metallgesellschaft AG然后又把该矾土卖给一个炼制业者,由他把矾土炼制成铝。金属公司出售矾土所得收人划到克莱斯勒的往来银行账户上,即欧美银行。这家银行付一部分钱给牙买加的铝矾土贸易公司。

The balance financed a letter of credit made out to Chrysler, which subsequently shipped trucks to Jamaica.Another government firm on the island took title, and sold the vehicles to a local Chrysler distributor.The mining companies got paid for their alumina and the Jamaican public finally got an opportunity to buy American trucks, to which they might not have otherwise had access.

余额部分用来给克莱斯勒公司开了一张信用证,随后把卡车运到了牙买加。岛上的另一家政府公司获得这些卡车的所有权,并把它们卖给克莱斯勒当地的经销商。这样,矿业公司最后售出矾土并得到报酬,牙买加的人民也终于有了机会购买原本可能无法得到的美国卡车。

International trade by barter is, in fact, an inefficient and expensive means of doing business compared to trading with money.Observes David Yoffie, “To cover the additional costs it incurs in handling goods it is forced to take in countertrade, a multinational company simply boosts the price of the goods it sells.” Yoffie see s countertrade as a form of protectionism.“It can help one group and hurt another,” he says.

与货币贸易相比,通过以货易货进行国际贸易实际上是一种低效且昂贵的贸易方式。《大卫·约非观察》评论说,“为了支付对等贸易中由不可避免的装运造成的额外成本,跨国公司干脆提高产品的价格。”约非把对等贸易看成是贸易保护主义的一种形式。

On the other hand, Daniel Cecchin, director of Countertrade Services for Bank America World Trade Corp., asserts that the rise of countertrade provides practical solutions to the debt problems of the international monetary system.

相反,美洲银行世界贸易公司对等贸易事物部主任丹尼尔·切奇坚持,对等贸易的兴起为解决国际货币制度中的债务问题提供了实际的解决办法。

--From Re ader’s Digest.August, 1985

——选自1985年8月《读者文摘》

barter n.易货贸易

primitive a.原始的

Saudi Arabian 沙特阿拉伯

crude (oil) a.原油

proceed n.收入

dip (into) v.动用(款项等)

secure v.弄到;得到

locate v.找到

steer v.指导;指点

contest n.竞赛(尤指竞技者各自献技由裁判择优的)

turbine n.涡轮机

equivalent a.相等的

the U.S.department of commer 美国商务部

countertrade n.对等贸易;反向贸易

outgrowth n.分支;副产品

endure v.持续

primary a.首要;主要

client state 附属国

bargain n.低廉bargain-price(用作定语)prohibit v.禁止

prohibit sb.from doing sth. 禁止某人做某事constraint n.约束;限制

Bretton Woods 布雷顿森林(美国一地名)

New Hampshire (美国)新罕布什尔州hammer (out) v.设计出

constrained a.强制的;被约束的

break down 崩溃

convertible a.可兑换的

antiquated n.陈旧的;过时的

horse-soldier 骑马

train v.承受巨大的压力

plain a.简单的

broke a.(俚语)[作表语用]破产的

debt service 利息付款(=interest payment) virtually ad.实际上

debtor n.债务人

creditor n.债权人

province n.(活动)范围

exert n.专门知识

leverage n.杠杆机构

tap v.着手利用

camouflaged a.伪装的

subsidize v.补贴

cartel n.卡特尔;联合企业

premium n.加价

provision(s) n.条款

variant n.变体;变形

essentially ad.基本上

cafeteria n.自助食堂

undertake v.接受;同意

jeans n.牛仔服装

clearing n.清算

tend (to) v.易于;往往会

pact n.条约

part (with) v.花掉

perpetuate v.使长存;保持

stuck (with) 缠住;陷入困境(stick的过去分词)

Byzantine a.错综复杂的

set out 打算

Jamaica n.牙买加

pull v.努力实现

bauxite n.铝土

alumina n.矾土(氧化铝)

aluminum n.铝

finance v.供资金给

title n.所有权

take title 取得所有权

distributor n.经销商

access n.机会

cover v.支付

incur v.招致

assert v.断言

1.proceeds: earnings

2.steered: introduced

3.convertible: exchangeable

4.antiquated: old-fashioned

5.tap: choose

6.camouflaged: disguised

7.perpetuate: make everlasting

8.access: opportunity

1、barter: 易货贸易

2.convertible: 可兑换货币

3.debt service: 偿还贷款

4.countertrade: 对等贸易

5.counterpruchase: 反向购买

6.debtor nations: 债务国

7.creditor nations: 债权国

1.国际金融机构:the international financial institution

2.货币储存:currency reserves

3.国际货币基金:the International Monetary Fund

4.货币交换:currency exchange

5.多边贸易:multilateral trade

6.清算协定:Clearing Agreements

7.补偿协定:Compensation Agreements

1.Boeing and Rolls-Royce will be paid in cash from the proceeds…

2.To secure sales of its F-5 jet fighter to the Swiss government, …

3.Northrop located a purchaser for Swiss elevators in Egypt and steered the Swiss to

a cement plant construction project in Indonesia.

4.Over five years some 200 Swiss companies benefited from Northrop’s assistance.

5.a hot contest

6.Romanian products of equivalent value

7.… up to 20 per cent of trade between nations is now subject to some form of countertrade …

8.the primary means of trade

9.bargain-price raw materials

10.… multilateral trade flourished.

11.… currencies were convertible.

12.… many countries are broke …

13.debt service

14.debtor nations

15.cerditors

16.expertise in international marketing

17.to tap the networks of global firms

18.the OPEC list price

19.at the expens e, of course, of other oil producers

20.Counterpurchase usually involves a supplier selling goods or services and in return ordering unrelated products, which essentially offsets the buyer’s costs.

21.Because India needs to export more to the Soviet Union to balance its imports, …

22.with the wrong specifications

23.The balance financed a letter of credit made out to Chryslcr, …

24.Another government firm on the island took title…

1.Economists at the U.S.Department of Commerce estimate that up to 20 percent of trade between nations is now subject to some form of countertrade—an outgrowth of the ancient practice of barter.

美国商务部的经济学家们估计,现在高达20%的国际贸易属于某种形式的反向贸易——古代易货贸易的副产品。

https://www.sodocs.net/doc/702336888.html,merce among nations entered a modern era; the constrained trading between imperial powers and their colonies began to break down.Would markets opened to all countries, and multilateral trade flourished.Generally a country could sell its goods in the best market it could find, and buy what is needed from the least expensive supplier, Moreover, since currencies were convertible, most transactions could be completed with cash.Barter was as antiquated as the horse——soldier, or so it seemed.

国际商业进入了一个现代化时代;帝国主义列强和殖民地之间的强制贸易开始崩溃。世界市场对所有国家开放,而且多边贸易得到繁荣发展。一般地说,一个国家可以在它所能找到的最好的市场销售自己的产品,并且从最便宜的供货者那里购买自己所需要的东西。况且,因为货币是可以转换的,大多数交易可以用现金完成。易货贸易像骑兵一样过时了,或者说似乎过时了。

3.During the past few years, however, the international monetary system has begun to strain under a variety of economic changes, one important cause is the enormous burden of debt carried by Third world countries, today estimated at $ 800 billion.

然而,在过去的几年里,国际货币系统开始承受各种经济变化带来的压力。一个最重要的原因是第三世界国家所背负的巨大债务负担,目前估计约8000亿美元。

https://www.sodocs.net/doc/702336888.html,ernment officials worry that the explosive growth in countertrade will weaken the world trading system.By concealing the real prices and cost of transaction, says one U.S.trade representative, the various forms of barter may conceal and help perpetuate economic inefficiencies in the marketplace.

美国政府官员们担心,反向贸易的猛增会削弱世界贸易体系。以为美国贸易代表说,通过隐瞒真实价格和交易成本,各种各样的易货贸易可能会掩盖市场上的经济低效并使其长期存在。

5.“To cover the additional costs it incurs in handling goods it is forced to take in countertrade, a multinational company simply boosts the price of the goods it sells.” Yoffie sees countertrade as a form of protectionism.“It c an help one group and hurt another.” He says.

“为了支付处理反向贸易所被迫接受的货物所花费的额外费用,跨国公司只能提高所售商品价格。”约菲把反向贸易看作是保护主义的一种形式。“它可以帮助一个群体,而损害另一个群体。”他说。

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旺旺英语 Lesson 15 Weekly Commodities (telex) 每周商品行情 Commodities 1商品行情(-) econews by Kate Kavanagh Oil prices seesaw to three-month low in “big bang week London”, Oct. 31 (afp)—the attention of commodities dealers was last week captured initially by events on the stock exchange, where Monday’s big bang was muffled by computer failures, but turned later to the troubled oil market. (法新社)10月31日电:在“伦敦大爆炸改革周”中,石油价格起伏不定,跌至三个月来的最低点。——上周商品交易者们的注意力先是被股票交易所发生的事情吸引,那里的计算机出了故障从而抑制了周一的“大爆炸改革”;但随后,交易者们的注意力又转向了混乱的石油市场。 The unexpected departure of sheik ahmed zaki yamani from his post as Saudi Arabian oil minister aggravated existing uncertainty concerning the future direction of oil prices in view of severe world oversupply. 在国际市场严重供大于求的情况下,沙特阿拉伯石油部长亚马尼的突然离职使本来就起伏不定的油价变得更加难以预料。 Unstable crude prices in turn prompted falls in platinum and gold, the latter to its lowest since early September, aggravated by the withdrawal of investment support as the dollar regained ground. 动荡的原油价格反过来又加速了白金和黄金的降价,而且由于美元重收失地,投资者纷纷撤回投资,黄金还降到了九月初以来的最低点。 Sterling’s decline lent some support to the base metal sector, where lead and zinc rallied on the continuing lack of a solution to the labour dispute affecting australia’s broken hill mines. 英镑的贬值使贱金属的价格有所上升。由于影响到澳大利亚Broken Hill矿山的劳工纠纷迟迟得不到解决,贱金属里的铅和锌的价格止跌回升。 Coffee fluctuated wildly on uncertainty over brazil’s role in the market but sugar and cocoa kept to a narrow range in quiet conditions. 咖啡的价格由于巴西在市场上的角色不稳定而疯狂波动,可是糖和可可的价格在平静中起伏不大。 The grain sector was dulled by the prospect of lower-than-expected soviet imports this season, despite improved british export figures. 本季度,尽管英国的出口量增加了,谷物市场还是因为苏联的进口比预想的低而显得清淡。 Commodities 2 商品行情2 Econews(London) Gold: lower. After coming in for early support on news of strike action affecting mines belonging to gold fields of south Africa, values declined in line with platinum and new york advices as miners were encouraged to return to work by management promises of negotiation. The fall in oil prices also brought pressure to bear but good resistance at around the 400 dollars per ounce level permitted a brief rally. However, values suffered a late decline to below 400 dollars per ounce in line with new york as the dollar strengthened on news of a decline in the u.s. budget trade and a cut in the bank of japan’s discount rate. 黄金:跌了。由于南非金矿受到罢工影响,黄金的价格上升,但随后资方承诺谈判,矿工复工,使得其价值又随着白金的贬值和纽约交易所的行情报告跌了下来。油价的下降同样给市场带来了压力,但在每盎司大约400美元的水平上的强力支撑使金价短时止跌。然而,美国国家预算批准的海外采购的减少和日本削减银行贴现率的消息使美元变得坚挺,金价随后下降到每盎司400美元以下,和纽约交易所标明的价格一样。 Latest figures from the south African chamber of mines showed a 4.6 per cent drop in gold production during the first nine months of 1986 to 488,854 kilos against 504,996 during the same 1985 period. 南非矿业协会的最新数字表明,1986年前9个月的黄金产量与1985年同期相比,下降了4. 6%,由504,996公斤减少到481,854公斤。

第14课 初级商品市场外刊经贸知识选读,每课重要知识点,串讲,课文翻译

第14课初级商品市场 Soft Commodities非耐用商品 Many prices are at historic lows, and the IMF expects further falls.Yet there are signs that the worse may be over.One key commodity, sugar, has recovered. 许多商品的价格处于历史最低点,虽然国际货币基金组织预计价格还会进一步下跌。但是,有迹象表明,最糟的局面已经结束了。因为“糖”这种关键性商品的价格已经回升了。 Markets Have Lost Their Allure 市场已失去吸引力 For Most people involved in the production and trading of “soft” or agricultural commodities, this is proving to be a grim decade. 对于大多数生产并买卖非耐用商品或农业品的人来说,这十年无疑是阴暗的十年。 Prices are in many cases at, or near, historic lows in real terms as markets struggle to cope with floods of surplus produce.And—with most soothsayers forecasting flat, or still lower, prices—the markets themselves have lost much of their allure. 许多情况下,产品的价格都在实际意义上处于或接近历史最低价,这是因为市场要应付泛滥成灾的过剩的农产品。同时,大多数预言家预测价格将会持平,或者更低。市场自身已经失去了很多的魅力。 Speculators who profited handsomely from the price volatility of the 1970s have deserted soft commodities for the newer excitement of financial futures or the security and big yields afforded by the equity and money markets. 从20世纪70年代的价格不稳中大笔获益的投机者们已经放弃了非耐用商品而寻求金融期货或有价证券带来的新的刺激以及股票和货币市场提供的巨额利润。The contrast with the “resources decade” of the 1970s could hardly be more marked.It is strange, indeed, to observe that only 10 years have elapsed since spiraling commodity prices were the focus of major international concern, and many respected forecasters were warning of impending global shortages of basic raw materials and foodstuffs. 这和70年代的“资源十年”之间的对比是再明显不过的了。确实很奇怪,仅仅十年前,国际上关心的焦点还是不断盘旋上升的价格,许多受人尊重的预言家们一直在警告全球性的基础原材料和食品短缺即将到来。 The shortages never came, and the terms of trade have now shifted dramatically against the commodity producers.Agricultural commodities have been particularly badly https://www.sodocs.net/doc/702336888.html,st year alone, the International Monetary Fund’s indices of food prices and of agricultural raw material prices fell by 15 per cent and 12 per cent https://www.sodocs.net/doc/702336888.html,modity prices in general were about 35 per cent below their 1980 average in 1985 according to the UN Conference on Trade and Development (UNCTAD). 然而,短缺从未出现,现在的贸易条件已经转为对商品生产者大为不利,特别是农产品遭到了严重的打击。仅仅去年一年,国际货币基金组织的食品和农业原材料的价格指数就分别下跌了15%和12%。联合国贸易和发展会议(贸发会)的

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Lesson 4 The Economic Scene: A Global Perspective (Excerpts) In 1991,for the second year in a row, the economies of low-income and middle-income countries virtually stagnated, as measured by an increase in per capita gross domestic product (GDP). Aggregate output for developing countries advanced by slightly less than 2 per cent during 1991 (similar to the weak performance of 1990), implying an easing in per capita income of 0.1 per cent. Aggregate statistics for 1991 were influenced by the sharp decline in output in Central and Eastern Europe, as well as by the adverse effects of the Gulf crisis on several economies in the Middle East. Excluding Central and Eastern Europe, growth in developing countries in 1991 was 3.4 per cent, compared with 3.8 per cent during the 1980s. Estimates of GDP growth by major geographic region show an acceleration in Latin America and in sub-Saharan Africa; an increase in China’s growth rate helped to sustain high rates of growth in the East Asia region. International conditions for growth in developing countries deteriorated in 1991. The seven major industrial countries (the G-7) experienced a significant slowdown in GDP growth—from 2.8 per cent in 1990 to 1.9 per cent during 1991 as recession gripped Canada, the United Kingdom, and the United States and growth rates slowed in continental Europe and Japan. In important respects, the slowdown was different from those that occurred during the 1970s and 1980s. Rather than reflecting the effect of disinflationary policies, weakness in demand was more closely related to the loss of momentum that had built up during the long period of expansion that began in 1983. In addition, a common factor underlying the slowdown in many industrial countries was the cyclical deceleration in investment spending. Although the weakness in demand in the United States led to a sharp decline in short-term dollar interest rates—a positive development for many developing countries—it also contributed to a drop of over 6 per cent in non-oil commodity prices and to a slackening, to 3 per cent, in the growth of world trade. These trends were compounded by worsening economic conditions in the Soviet Union and its successor states, where a growing shortage of foreign exchange led to a compression of imports from Eastern Europe and an acceleration of certain commodity exports (aluminum, gold and lead, for instance) to earn hard currencies. Against this deteriorating global background, the improvement in economic performance in a few developing regions in 1991—which carried over in 1992—was especially noteworthy. This improvement is attributable, in part, to the implementation by many governments of measures to stabilize their economies and restructure incentives to encourage private initiative and international trade. Policy reforms in Latin America helped to moderate inflation and domestic demand; East Asian economics, supported by growth in export volume in the range of 10 per cent and by robust domestic demand, continued to grow rapidly. Sub-Saharan Africa raised its real GDP growth rate from 1.3 per cent in 1990 to 2.4 per cent in 1991. Also noteworthy was the implementation by the Paris Club of a new menu of enhanced concessions in debt reschedulings for the severely indebted, low-income countries. The menu was introduced in agreements with Benin and Nicaragua, and was subsequently applied in agreements with Bolivia and Tanzania. Nonconcessional but special extended rescheduling terms were also

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Lesson 1 China in the Market Place市场经济中的中国(Excerpts)(摘录) Barry Coulthurst examines the development of China’s trade policy and the present state of the overseas links --巴里库尔塞斯特对中国贸易政策的演变和当前与海外经济往来状况的研究 自从中华人民共和国成立以来,中国对外贸易的模式发生了巨大的变化。20世纪50年代,中国向苏联和东欧国家出口农产品换取制造品和资本设备,用于侧重于重工业发展所必须的工业化项目。1958~1959年的―大跃进‖最初在工农业生产上带来收益,但随后又导致了严重的经济平衡。三年自然灾害(1959-1961)加剧了经济问题,造成1960-1962年间的国民收入和对外贸易额的减少。 20世纪60年代,苏联经济和技术援助撤走,导致了中国与苏联及经互会成员国的贸易转向于日本和西欧国家的贸易。中国对外贸易政策的一贯宗旨是重视与第三世界国家发展贸易关系。 ―文化大革命‖期间(1966-1976)工农业生产一落千丈,交通运输限制更加严重,中国对外贸易的增长再次中断。 The Sino-USA agreement on trade relations, which came into force(解释:施行)in February 1980, accords China most-favoured nation treatment.(最惠国待遇) 在实现四个现代化中起着很大作用的对外贸易在近几年发展很快。1978年2月于日本签订了一个主要贸易协定,根据这个协定,中国向日本出口每盒石油换取工业设备和技术。1978年中国也与欧共体签订了长期贸易协定,继1979年初与美国的外交关系正常化以后,中美贸易发展迅速。美国遵照1980年1月25日生效的中美贸易关系协定给与中国最惠国待遇。 Breakdown分类A commodity breakdown of China’s trade shows that fuels (燃料)accounted for 24 per cent of total exports in 1982, 中国的贸易商品分类表明,1982年燃料占总出口的24%,食品占13%,纺织纤维和矿砂占7%,制造品占55%(最重要的产品是纺织品、化工产品、机械及运输设备)。自从新中国建立以来,中国一直重视进口资本设备已使加强工业部门。但是1982年进口的主要是食品,占进口总额的22%,轻工业产品占20%,机械和运输设备占17%。 During the past few years a major objective of the Chinese authorities(权威、权力)has been to reduce(减少)the proportion(比例)of agricultural exports, while increasing that of industrial and mineral products. A wide variety(多样性)of industrial goods are now exported and Chinese capital equipment has been used by a number of developing countries to establish projects in areas such as agriculture, forestry, light industry, food processing, water conservation and transport and communications. 过去几年,中国当局的主要贸易目标一直是减少农产品出口的比例,增加工业和矿产品的出口比例。中国现在出口种类繁多的工业品,许多发展中国家采用中国的资本设备,用于农业、林业、轻工业、食品加工业、水保护、交通和通信领域中的建设项目 The Balance Shifts 收支平衡变化The US dollar value of Chinese exports increased at an average rate of almost 18 per cent per annum between 1978 and 1983, while imports increased by approximately (大约)11 per cent per annum. As a result, the visible trade surplus (有形贸易顺差)rose sharply from US $ 1.4 billion in 1981 to US $ 4.4 billion in 1982 and US $ 3.7 billion in 1983. Exports grew much faster than imports during this period not only because of the strong emphasis placed on exporting by China’s economic planners, but also because a number of industrial projects were postponed in 1979. Official(官方)recognition(承认)that foreign technology could play a major role in modernising the Chinese economy had caused imports to rise by more than 50 per cent in 1978 placing undue strain on the national economy. Grain imports have fallen sharply over the past few years ---- China became a net grain exporter in 1984 ---- and in 1983 the country started to export soyabeans and cotton. 1978-1983年建,中国出口额按美元计算,平均每年增长率近18%,每年进口额增长率约是11%。因此有形贸易顺差从1981年的14亿美元猛增到1982年的44亿美元,1983年是37美元。同期的出口比进口增长快得多,这不仅是因为中国的经济决策者十分重视出口,还因为许多工业项目推迟到了1979年。官方认识到,在中国经济走向现代化的过程中外国技术起着主要作用,这种认识导致1978年进口增长50%以上,给国民经济造成了不应有的重负。在过去几年粮食进口急剧减少—1984年中国成为粮食净出口国---1983年中国开始出口大豆和棉花。

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